CALGARY, July 30, 2019 /CNW/ - Value Chain Solutions (" VCS "), a member of Value Creation Group (" VCG "), has informed Alberta Government Authorities and Alberta Industrial Heartland Association, of its intention to consider the option to:
- Accelerate the project implementation of the VCS – Heartland Complex ( an Upgrader with Specialty Product Refining ), up to the full approved capacity of 188 kbpd ( instead of the previously planned 77.5 kbpd, as Phase 1 ).
- Broaden its Product Portfolio to provide:
- Clean, Premium Crudes to best-fit global refining industry, and enable enhanced refinery performance economically and environmentally;
- High Quality / Value Specialty Products for superior environmental performance, for emerging and fast growth markets.
The above Accelerated / Expanded Commercialization would be achieved fully within the Approved Project Scope by Alberta Regulatory Authorities. We expect the eventual emissions will be below the approved limits.
The initial Phase 1 project, as previously submitted for "Partial Upgrading Program", under Alberta Economic Diversification Programs, remains an integral part of the expanded project, and meets and exceeds Program objectives.
VCG is considering this enhanced commercialization option in due consideration of potential market interests, based on our business development effort. ( VCG has received Expression of Interest from major players, for bitumen supply and product off-take, for beyond its originally planned capacity ).
In addition, VCG is well advanced in the preparation of regulatory applications for further expansion of VCS-Heartland Complex and a proposed Regional Upgrader in oil sands resource region. When fully implemented, these projects would have target capacity of 1 million bpd.
In essence, VCG actualizes ( expeditiously ) the Alberta Government Vision:
Alberta – the Destination of Choice for Global Energy Investment
– catapulting Economy and Employment ,
remarked Dr. Columba Yeung, Chairman of Value Creation Group. Government sponsorship, at this critical juncture of transformative entrepreneurial development, remains a Pivotal Catalyst for Investor Confidence.
Separately, VCG has submitted an Expression of Interest for the BC Refinery ( a Coastal Clean Oil Refinery ), to the Right Honourable Prime Minister of Canada and the Honourable Premier of British Columbia.
With implementation of the Projects, leveraging on VCG proprietary technologies, there will be step change reductions in GHG emission and environmental footprint while providing cleaner energy, far more efficient utilization of pipelines ( existing and new ) and rail, and providing significant added-value and employment opportunities for Alberta and British Columbia, and the rest of Canada.
This notice or the information contained herein is not being issued in or into and may not be distributed directly or indirectly in or into, the United States of America or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
CAUTION ON FORWARD-LOOKING STATEMENT – DISCLAIMER
This communication is based on information available when this communication was prepared and is provided as a matter of convenience only. VCG makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCG disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this communication, and for any written or oral communications made by VCG or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is it to be construed as an advertisement or offer to sell any securities of VCG. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCG's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward-looking statements. Accordingly, no assurance can be, and none is given in this communication that any of the forward-looking statements will transpire or occur, or if any of them do so, what benefits VCG will derive therefrom. VCG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Value Creation Group
View original content: http://www.newswire.ca/en/releases/archive/July2019/30/c6676.html
